Saudi Basic Industries Corporation (SABIC)
About
SABIC was created by royal decree in 1976 as Saudi Arabia's answer to a strategic problem: the kingdom had vast oil and gas reserves but no petrochemical industry to convert them into higher-value products. Half a century later it is one of the world's largest petrochemical companies, with roughly 31,000 employees, annual revenue above US$35 billion, and a portfolio spanning polyethylene, polypropylene, polycarbonate, and engineering thermoplastics sold under brands like LEXAN and CYCOLAC. The company's feedstock advantage is structural — access to low-cost ethane from Saudi gas fields gives it a cost-curve position few rivals can match — and it has expanded abroad through majority-owned plants in China, the US, and Europe rather than exports alone. SABIC also operates one of the world's largest carbon-capture projects at its United joint venture, part of a stated goal to reach carbon neutrality by 2050. Industrial buyers turn to SABIC for reliable, specification-grade commodity resins at scale, plus specialty grades for automotive, medical, and packaging applications — with the reassurance of a balance sheet backed by Saudi Aramco, which acquired a 70% stake in 2020.
Also known as: SABIC
